Aditya Birla Capital Ltd. said it has completed fund raise of ₹3,000 crore through a Qualified Institutional Placement (QIP) of equity shares aggregating to ₹1,750 crore and a preferential issuance of equity shares aggregating to ₹ 1,250 crore to its Promoter and Promoter Group entity, Grasim Industries Ltd. and Surya Kiran Investments Pte. Ltd., respectively.
The Stakeholders Relationship Committee of the Board of Directors of the company, held on June 30, approved the issue and allotment of 10,00,000,00 equity shares of face value ₹10 each to eligible Qualified Institutional Buyers (QIBs) at the issue price of ₹175 per Equity Share (including a premium of ₹165 per Equity Share), aggregating to ₹1,750 crore.
The first-ever QIP transaction of the company has witnessed response from foreign portfolio investors, sovereign wealth funds and domestic institutional investors including BlackRock, Capital Group, Norges Bank, Royal Bank of Canada, M&G Investments, Abu Dhabi Investment Authority (ADIA), Massachusetts Institute of Technology (MIT), Public Sector Pension Investment Board (PSP) and SBI Life Insurance.
Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “This investment marks a pivotal moment in the journey of Aditya Birla Capital. It underscores Aditya Birla Group’s commitment to our rapidly growing financial services business.”
Vishakha Mulye, CEO, Aditya Birla Capital said, “Guided by the ‘One ABC. One P&L’ approach, we are committed to drive quality and profitable growth, harness the power of data, digital and technology to serve our customers better and create long-term value for our stakeholders.”
